Bank Leumi Close to a $400m Settlement Relating to US Tax Evasion

Bank Leumi Close to a $400m Settlement Relating to US Tax Evasion

Bloomberg reports that Bank Leumi Le Israel is close to a settlement with the US federal and state investigators. It is believed that Bank Leumi would pay about $270m to the US Justice Department (DoJ) and $130m to New York’s Department of Financial Services, bringing the settlement amount to around $400m.

The bank previously announced that it set aside provisions close to that amount.